At Supreme Court Karti reveals details of his banking activity abroad

The only banking activity conducted by me during my visit to the UK post the registration of the FIR by the CBI related to the two accounts in the Metro Bank and a sub account. He told the Supreme Court that the said account was opened in the Metro Bank only in 2016 and a linked sub-account was opened later.

Karti Chidambaram

I never held any prior account before that, he also told the court. Karti sought permission from the Supreme Court to travel abroad between October 19 and November 13. He said that he needed to make this trip as he had to admit his daughter for higher studies at the Cambridge University for the year 2018-19.

He further stated that he has just one bank account in the Metro Bank in UK. This was opened in June 2016, he also said. He also said that the bank account has not got any remittance from anyone except him, his wife and daughter.

I am politically exposed person and the UK has strict laws governing PEPs in terms of opening bank accounts, he also submitted. It is because of my father's and my political affiliation I am being subject to such rigorous scrutiny. We own only one asset abroad and this was acquired by transfer of funds through nationalised banks under RBI's liberalised remittance scheme.

The submission comes a few days after the CBI said that Karti the son of former union minister, P Chidambaram had gone abroad to close his foreign accounts.

The CBI while arguing that the look out circular against Karti should remain in force said that he went abroad and closed his accounts. Karti Chidambaram has closed several foreign accounts and transferred money deposited in them when he was abroad, the CBI also said.

This is in clear contradiction to what Karti, had tol d the agency-that he had just one account. The court is hearing a plea challenging the lookout circular issued by the Central Bureau of Investigation which barred Karti, son of former union minister P Chidambaram from traveling abroad.

The Central Bureau of Investigation has alleged that Karti Chidambaram took service charges for getting FIPB clearance when his father P Chidambaram was the union finance minister.

The CBI while defending the circular said that it has ample evidence to show the properties and accounts that Karti Chidambaram holds abroad. It also accused him of charging service while getting FIPB clearance when his father Chidambaram was the finance minister of India.

The submissions were made by the CBI which probed Karti in the INX media case. Karti Chidambaram arguing through his counsel said that the CBI has claimed that he had properties all across the world.

They also said I have bank accounts abroad. However during the questioning the CBI did not ask me one question about it, he also submitted. The CBI responded by saying, " we have things to show- the jugglery of accounts and properties abroad.